Zimbabwe, South Africa In Talks Over Financial Package

Zimbabwe and South Africa yesterday agreed to pursue negotiations over possible financial packages to be extended to the central bank and the local private sector, as part of efforts by Pretoria to assist Harare turn around its economy.

In a communiqué released at the end of the third Zimbabwe-South Africa Bi-National Commission (BNC), the two countries agreed to consider options for increasing the facility arrangement between the nations’ central banks. Part of the communiqué reads:

The two sides agreed to consider options for expanding the standing facility arrangement between parties’ Central Banks, other financing options beyond this are also being explored for example a facility from South African private banks to the Zimbabwean private sector and guaranteed by the South African government with an appropriate counter guarantee from the Zimbabwean government.